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RE: The Economic System Will Slowly Shift, Not Collapse

in #economics7 years ago

This reminds me of the "Peak Oil" people. Their argument was that energy consumption would never level off or decline, so we'd have a horrible shortage.

And guess what is happening? Oil production is down compared to historical averages, but it doesn't matter much. Renewables have been marching steadily forward.

There are countries that have nearly complete or are completely converted to renewable energy sources. This reduces demand, which in turn makes a glut of oil sloshing around the world.

The predicted energy crisis never happens, because the transition has already begun.

Same with anything else, really. Preparing for the extreme situation prevents the scenario from happening.

So, everyone bracing for full system collapse are actually creating a collective force that will prevent it from happening.

Ironic, isn't it.